Cryptocurrencies have brought significant changes to the financial world. Today, the internet is almost blazing with the talks about cryptocurrency and blockchain technology. It would not be wrong to say, it has thrown the global economy into confusion. Cryptocurrency is among the biggest trends of recent times.
People who are attracted by the news that cryptocurrency can be the biggest investment in modern time are trying every possible means to catch the mood of the cryptocurrency market. They are taking help of cryptocurrency indicators to analyze the market situation.
If you are into the trading, you probably know about pivot point indicators such as Murrey Math, Fibonacci, etc. Cryptocurrency indicators are somehow similar to them.
These indicators not only help people trade successfully but also supplement their analysis. Since cryptocurrency market moves up and down frequently, the dependency on these indicators is quite crucial
Not all indicators are equal in terms of performance. Therefore, we have come up with the list of few best ones.
RSI Hunter-
RSI Hunter is one of the most promising names for cryptocurrency indicators and crypto price charts. The best part is, it is tracking numerous assets listed on Binance, Kucoin, Bittrex, and Bitmex. It updates RSI and prices every single minute.
RSI Hunter has been continuously bringing improvements in its functionality. It would be no surprise if you notice a lot of cool features on it very soon.
Moving Averages-
If you’re looking for a user-friendly cryptocurrency indicator, Moving averages can be a good option for you. Countless investors across the globe are using it to check the current price trends and taking the trading decision accordingly.
It can be used along with other technical indicators to enhance the accuracy of the prediction.
Relative Strength Index
Created by J. Welles, Relative Strength Index is a well-known cryptocurrency indicator that moves back and forth between 0 and 100. This indicator can help to predict, whether the cryptocurrency is overbought or oversold. Basically, the idea is, if the coin is overbought, there is a possibility that it will fall.
To control RSI, you will need to calculate the relative strength as the ratio. In short, this momentum indicator can compare the magnitude of recent gain and loss.
MACD
MACD stands for Moving Average Convergence Divergence. It is another most trusted price oscillators available in the market. It helps in predicting price action by analyzing exponential moving averages-
Short-Term (12 Days)
Long-Term (26 Days)
Single Line (9 Days EMA)
It means prediction will be made by analyzing these 3 time durations.
Camarilla-
Camarilla is the most demanded Cryptocurrency calculator which can help you determine every possible trend. It identifies ‘Support’ and ‘Resistance’ levels. These are two primary support of technical analysis.
Support level can help you find the current less price. It indicates buying pressure as well.
On the other hand, the resistance level is found above the current price. It indicates selling pressure and provides bullish breakout.
Final Words
Hopefully, these indicators will help you get the accurate cryptocurrency signals and best trading opportunities in cryptocurrency market.